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Feb 19, 2009 at 04:02 AM

Wrong Depn calculated for new useful life of asset

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Hi,

My company went live in Jan2008. There is a migrated asset that is having 2 problems.

Migrated figure is Acq 180,001.26, Accum Depn is 146,651.02. NBV as at Jan 2008 is 33,350.24. Useful is 4 years. Capitalised date & Depn start date is input as 01.01.2004.

1. Since migration, no depreciation has been executed. How come AFAB did not pick up this asset to run the depreciation ? What goes wrong ?

2. Then we have decided to extend the lifespan from 4 years to 8 years. After amending the lifespan, we run AFAB in P13 2008. Then the system picks up the depreciation calculated for the whole year of 2008 & post in to Dec 2008 (P13). Amount 22,500.

When I view AS03 or AW01, the system did not change recalculate the depn base on the new lifespan, over the remaining useful life. It still fully depreciated the assets in 2009 Jun. What have I missed out ?

Depreciation key is to depreciate asset daily.

Please help.

Thanks.